Reliance Jio makes Rs. 504 Cr profit in second quarter

Reliance Jio, the number one mobile broadband operator in the country has completed second quarter with a net profit of Rs. 504 crore.

The standalone revenue for Reliance Jio increased to Rs. 6,879 crore an increase of 11.9 per cent over previous quarter.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries said, “I would like to thank all our customers for partnering with us in this revolution which has made India a global digital powerhouse. I congratulate all our employees and partners for the strong performance. Our commitment is to keep pushing newer innovative products which would radically transform customer lives and generate huge societal value. Jio’s strong financial result reflects the fundamental strength of the business, significant efficiencies and right strategic initiatives. Jio has demonstrated that it can sustain its strong financial performance.”

Jio subscribers continue to demonstrate high activity level with average data consumption per user per month of 9.6 GB and average voice consumption of 694 minutes per user per month; these are both highest in the industry and substantially higher than other operators. Video consumption has crossed 200 crore hours per month on the network.

Jio has built a future ready network which can easily deploy 5G and beyond technology in the last leg. Jio has created an eco-system comprising network, devices, applications and content, service experience and affordable tariffs for everyone to live the Jio Digital Life.

Jio continues its rapid ramp-up of subscriber base and as of 31st December 2017, there were 160.1 million subscribers on the network. This makes it India’s largest wireless data subscriber base, with the gap widening from the other operators. With gross additions of 27.8 million during the quarter, Jio continues to have a dominant share of all the new LTE smartphones sold in the country.

The company continues to make progress for delivering enterprise solutions and FTTH with beta trials initiated in a few locations. These services are being offered using the same integrated network and platforms.